The United States has long drawn comfort from the quality differential of its educational system. However, in the Internet Age with its ubiquitous diffusion of knowledge, innovation, and technological change, that may turn out to...

To the extent such a payback is likely after the current spending burst, it could act as a sharp depressant on overall demand growth in subsequent quarters, … That development, in the context of a...

The same distortions, in my view, could well be explaining a lot of the recent strength in the remainder of the U.S. data flow. If that’s the case, all it will take is for the...

There is a dangerous degree of complacency, and out of that comes a surprise that does the most damage to the global economy.

An extraordinary deflationary shock in tradable goods has coincided with outsize disinflation in services, resulting in the most deflation-prone business cycle of the modern post-World War II era,

The West always seems to expect a hard landing in China. Yet in three instances over the past decade, China has proved the doubters wrong.

Global trade is an increasingly large component of the world economy — now accounting for close to 25 percent of global GDP. So when world trade hits the wall, so should the broader measures of...

I am feeling better about the prognosis for the world economy for the first time in ages.

Greenspan’s remarks appear to be more balanced than in the past. He is moving into closer alignment with what has become accepted practice in most central banking circles. Missing, however, is what a central bank...

[Inflation] is starting to broaden out; it’s starting to move up a little bit, … The Fed certainly has to be concerned about that.

For the United States, it’s the end of labor as we once knew it.

Unlike the case a decade ago, I view the coming normalization of Fed policy as a much more serous threat to economic recovery in the U.S. and the broader global economy,

He’s the victim. He was beaten, abandoned, betrayed and his medical needs ignored by David Williams.

The case for a classic U.S. current account adjustment grows more compelling. This could lead to renewed weakening of the dollar and higher long- term real interest rates.

Consumers have stagnant real wages and they are getting hit with the shocks of higher energy prices. This is not a good combination for the overstretched consumer.

We are shifting to an outright recession scenario in the United States, and, in response, we are slashing our forecast of the global economy for 2001,

If the Schumer-Graham bill closes down U.S. trade with China through the imposition of steep tariffs, a saving-short U.S. economy will simply have to divert a significant portion of its multilateral trade deficit elsewhere.